Michael's Blog

Michael Alexander Brown | KELLER WILLIAMS REALTY GROUP | 718.541.6149 61 Clifton Rd, Scarsdale, NY Edgemont Schools 4BR/3BA Single Family House   offered at $795,900 Year Built 1958 Sq Footage 2,077 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 2 Car garage Lot Size .29 acres HOA/Maint $0 per month DESCRIPTION Edgemont Schools! Mint 4 bedroom Cape in the heart of Scarsdale. Easy commute to NYC, steps from express bus. Almost 1/3 of an acre beautiful landscaped, bi-level yard with mature peach, fig, crabapple & apricot trees, great views. Too many details to list!   see additional photos below PROPERTY FEATURES Fireplace Hardwood floor Tile floor Family room Living room Bonus/Rec room Office/Den Dining room Dishwasher Refrigerator Stove/Oven Microwave Basement Washer Dryer Laundry area - inside     COMMUNITY FEATURES Garage parking       OTHER SPECIAL FEATURES Stone Front Apricot, Pear, Fig & Peach Trees   ADDITIONAL PHOTOS Seller contact info: Michael Alexander Brown KELLER WILLIAMS REALTY GROUP 718.541.6149 For sale by agent/broker Equal Opportunity Housing Posted: Jul 18, 2008, 11:47am PDT

MICHAEL ALEXANDER BROWN - REALTOR® WESTCHESTER COUNTY & THE BRONX

With the ever so changing loan requirements, mortgage brokers have been turning down more borrowers than they would have 2 years ago. Bank and investors alike are getting more strict with their lending practices. Which I think they should. Aimed at trying to curb the increase in foreclosures, New York State Legislature in June passed another great one. In The New York Times article, this Sunday, Mortgage Brokers as Naysayers, the legislation is talked about in greater detail. 

In the legislation are a couple of of provisions meant to prevent borrowers from taking out loans that they can not repay. Which I thought should always be the case. It also states that brokers now have a "duty of care" to offer appropriate loans to sub prime borrowers, especially those with poor credit. What the hell is that? APPROPRIATE! Appropriate for who? Gene Tricozzi, president of the New York Association of Mortgage Brokers, states "We have some serious issues with this law."

Mortgage brokers have come under tremendous scrutiny because many have seemed to have offered loans to borrowers who had little to no chance of repaying the debt. Many advocates want mortgage brokers to be held at the same standard as stock brokers and other financial advisers.

Will mortgage brokers be forced to offer products that favor banks over the long term vs favoring borrowers over the short term?

As usuall comments and suggestions are always welcomed...

MICHAEL ALEXANDER BROWN - REALTOR® WESTCHESTER COUNTY & THE BRONX

Michael Alexander Brown | KELLER WILLIAMS REALTY GROUP | 718.541.6149 3215 Olinville Ave Apt 4A, Bronx, NY Great Value Studio/1BA Co-Op   offered at $69,700 Year Built 1963 Sq Footage 500 Bedrooms Studio Bathrooms 1 full, 0 partial Floors 1 Parking None Lot Size .2 acres HOA/Maint $397 per month DESCRIPTION Great Value. Incredible studio apartment within walking distance to all. One block from train, park and shopping. Security 7 days a week plus new state of the art video intercom system.   see additional photos below PROPERTY FEATURES Hardwood floor Refrigerator Stove/Oven COMMUNITY FEATURES Garage parking Laundry on-site Secured entry Elevator       OTHER SPECIAL FEATURES Walk to Train Walk to Shops   ADDITIONAL PHOTOS Seller contact info: Michael Alexander Brown KELLER WILLIAMS REALTY GROUP 718.541.6149 For sale by agent/broker Equal Opportunity Housing Posted: Jul 6, 2008, 10:37am PDT

MICHAEL ALEXANDER BROWN - REALTOR® WESTCHESTER COUNTY & THE BRONX

Michael Alexander Brown | KELLER WILLIAMS REALTY GROUP | 718.541.6149 115 Hutchinson Blvd, Scarsdale, NY Eastchester Classic Colonial 3BR/1.5BA Single Family House   offered at $595,000 Year Built 1928 Sq Footage 1,620 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 2 Parking 1 Uncovered spaces Lot Size .10 acres HOA/Maint $0 per month DESCRIPTION Well Maintained Colonial in Eastchester School district. Boasts 3 bedrooms, living room with fireplace, New Bath, Eat in Kitchen with new appliances and Breakfast room. Harwood floors throughout, Central Air, new boiler. Great details.   see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace Hardwood floor Family room Living room Bonus/Rec room Office/Den Dining room Breakfast nook Dishwasher Refrigerator Stove/Oven Microwave Attic Basement Washer Dryer Laundry area - inside Yard   OTHER SPECIAL FEATURES New Bath   ADDITIONAL PHOTOS Seller contact info: Michael Alexander Brown KELLER WILLIAMS REALTY GROUP 718.541.6149 For sale by agent/broker Equal Opportunity Housing Posted: Jul 6, 2008, 10:05am PDT

MICHAEL ALEXANDER BROWN - REALTOR® WESTCHESTER COUNTY